# Covert Buick, INC. 401(k) Plan
Source: https://planprovider.pro/companies/covert-buick-inc-401k-plan

> Covert Buick, INC.'s 401(k) plan: 1,114 participants, plan year 2024 financials, providers, and benchmarks from Form 5500.

Form 5500 filing data for plan year 2024.

## Plan Snapshot

- **Plan Sponsor:** Covert Buick, INC.

- **Sponsor EIN:** 741982741

- **Sponsor Address:** 11750 RESEARCH BLVD, AUSTIN, TX, 787592446

- **Plan Type:** 401(k)

- **Total Participants:** 1,114

- **Total Assets:** $39.0M

## Key Plan Design Features

- **Auto-Enrollment:** Yes

- **Auto-Escalation:** No

- **Allows Roth Contributions:** Yes

- **Participant Loans:** No

- **Participant-Directed Investments:** Yes

- **ERISA Section 404(c) Fiduciary Safe Harbor:** No

## Plan Financials by Year

| Year|Participants|Total Assets|Employer Contrib.|Employee Contrib.|

| 2024|1,114|$39.0M|$0|$5.5M|

| 2023|1,110|$33.1M|$0|$5.3M|

| 2022|964|$26.3M|$0|$4.7M|

## Service Providers (Schedule C)

Vendors paid $5,000 or more for services to the plan, ranked by total compensation (direct + indirect fees).

| Provider Name|
Role|
Direct Compensation|
Indirect Compensation|
Total Fees|

| PRINCIPAL LIFE INSURANCE COMPANY|CONTRACT ADMINISTRATOR|$201,884|—|$201,884|

| WELLS FARGO ADVISORS INS AGENCY LLC|OTHER SERVICES|—|$47,341|$47,341|

| PEGGY S. EDGE CPA, LLC|Auditor|—|—|$0|

## Plan Fees & Expenses

Annual service provider fees and administrative expenses sourced from DOL Form 5500 filings.

- **Total Service Provider Fees:** $249,225

- **Estimated Expense Ratio:** 0.639% of plan assets

### Historical Administrative Expenses

Breakdown of administrative expense categories reported on Form 5500 filings.

| Year|
Total Admin Expenses|
Investment Mgmt Fees|
Contract Admin Fees|
IQPA Audit Fees|
Professional Fees|

| 2024|$201,885|—|$201,885|—|—|

| 2023|$101,504|—|$101,504|—|—|

| 2022|$37,302|—|$37,302|—|—|

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